BJP and Congress See Surge in Donations, Report Record Contributions for 2023-24

The 2023-24 financial year has marked a significant surge in political donations for both the Bharatiya Janata Party (BJP) and the Indian National Congress. The BJP, in particular, saw a remarkable rise in contributions, receiving approximately Rs 2,244 crore from individuals, trusts, and corporate entities. This figure is more than three times the amount it received in the previous year, which was Rs 723 crore. In contrast, Congress reported Rs 288.9 crore in donations, a notable increase from Rs 79.9 crore in 2022-23.

A closer look at the contribution reports, now available on the Election Commission’s website, reveals that a significant portion of the donations received by both parties came through electoral trusts. For instance, the BJP received Rs 723.6 crore from Prudent Electoral Trust, accounting for nearly a third of its total donations. Congress, similarly, received Rs 156.4 crore from the same trust, making up more than half of its total donations. The Prudent Electoral Trust has been a key player in political funding, with major donors such as Megha Engg & Infra Ltd, Serum Institute, Arcelor Mittal Group, and Bharti Airtel contributing substantial amounts in 2022-23.

It’s important to note that the donation figures reported by both BJP and Congress do not include contributions made through electoral bonds. The Supreme Court’s ruling in February 2024 led to the cancellation of the electoral bond scheme, which had previously allowed political parties to receive anonymous donations through bonds. As a result, direct contributions and those from electoral trusts became the primary sources of funding for political parties.

Regional parties also disclosed their receipts from the electoral bond scheme, which was previously a prominent funding route. Among them, the Bharat Rashtra Samithi (BRS) reported Rs 495.5 crore, while the Dravida Munnetra Kazhagam (DMK) and YSR Congress declared Rs 60 crore and Rs 121.5 crore, respectively. The Jharkhand Mukti Morcha (JMM) reported Rs 11.5 crore in bond receipts, although its other contributions amounted to just over Rs 64 lakh.

The surge in contributions for the BJP is consistent with the pattern observed in the lead-up to general elections. In the 2018-19 financial year, just ahead of the 2019 general elections, the BJP reported Rs 742 crore in donations, while Congress declared Rs 146.8 crore. The BJP’s contribution increase in 2023-24 is a clear reflection of its growing political fundraising efforts.

Noteworthy donations this year include Rs 3 crore declared by the BJP from Future Gaming and Hotel Services, a company owned by Santiago Martin, famously known as the “Lottery King” of India. Martin, who has been under investigation by the Enforcement Directorate and the Income Tax Department for alleged money laundering, was the largest donor via the electoral bond route, with Trinamool Congress being the primary beneficiary of his contributions.

Other national parties also reported their financial disclosures. The Aam Aadmi Party (AAP) declared Rs 11.1 crore in donations, down from Rs 37.1 crore the previous year. The Communist Party of India (Marxist) (CPM) saw a slight increase in donations, reporting Rs 7.6 crore compared to Rs 6.1 crore in 2022-23. The National People’s Party (NPP), which is in power in Meghalaya, received Rs 14.8 lakh, while the Bahujan Samaj Party (BSP) and Biju Janata Dal (BJD) reported no donations exceeding Rs 20,000.

The political funding landscape in India is undergoing significant shifts, with the discontinuation of electoral bonds leading to more transparency in donation disclosures. As the 2024 general elections approach, these financial reports offer a glimpse into the growing influence of electoral trusts and the key players driving political donations in the country.